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Turkiye’s short-term external debt stock increased in January and reached $152.8 billion

Short-term external debt stock increased by 3.5% in January compared to the previous month and reached $152.8 billion.

Short-term external debt statistics for January 2023 were announced by the Central Bank of the Republic of Turkiye (CBRT).

Accordingly, the short-term external debt stock increased by 3.5% in January compared to the previous month and amounted to $152.8 billion. In this period, banks’ short-term external debt stock increased by 4.6% to $62.9 billion, while the short-term external debt stock of other sectors increased by 2.8% to $56.2 billion.

Short-term loans used by banks from abroad decreased by 2.3% in January compared to the end of the previous month and decreased to $10.5 billion.

In the same period, FX deposits of non-residents, excluding banks, increased by 3.7% to $21 billion, while deposits of non-resident banks increased by 2% to $17.2 billion. TL deposits of non-residents increased by 15.8% and reached $14.2 billion.

Import debts under other sectors increased by 2.3% compared to the previous month and rose to $50.3 billion.

Short-term external debt of the private sector is $87.4 billion

When analyzed on a debtor basis, the short-term debt of the public sector, which consists entirely of public banks, increased by 10% in January compared to the previous month and reached $31.8 billion, while the short-term external debt of the private sector increased by 1.7% to $87.4 billion.

In this period, short-term debts to monetary institutions under the heading of private creditors increased by 3.9% to $76.6 billion, while debts to non-monetary institutions increased by 3% to $75.3 billion.

Short-term bond issues, which were $676 million at the end of 2022, increased to $804 million by the end of January 2023. In the same period, short-term debts to official creditors were recorded as $92 million.

As of the end of January, 45.2% of the short-term external debt stock was in dollars, 25.8% in euros, 10.5% in TL and 18.5% in other currencies.

Regardless of its original maturity, the short-term external debt stock according to the remaining maturity, which is calculated using the external debt data with a maturity of 1 year or less, stood at $196.0 billion. $16.6 billion of the said stock consisted of debts to foreign branches and subsidiaries of Turkish banks and the private sector.

When evaluated on a debtor basis, it was seen that the public sector had a share of 21.9%, the Central Bank had a share of 17.2% and the private sector had a share of 60.9% in the total stock.

Source: Trthaber / Prepared by Irem Yildiz

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